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Volume 31, Issue 2

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Tuesday, 06 November 2018 05:36

Raising the Impact of Business Continuity and Resilience

Organizations are under increasing pressure to respond quickly and effectively to operational disruptions

LONDON, UK – To effectively address the mounting pressure and increasing frequency of critical events, Business continuity teams need to reach out to their security, IT and crisis teams to build collaborative working relations with the goal of minimizing the impact of disruptions.

This is one of the key findings of the 2018 BCI Continuity and Resilience Report, published by the Business Continuity Institute, in collaboration with Everbridge, a global leader in critical event management and enterprise safety applications.

The findings of the report highlight the importance of business continuity and its relationship with other management functions such as information security, risk management or physical security when handling crises.

The Continuity and Resilience Report found that:

  • When responding to an incident, Business Continuity arrangements are considered above all to ensure a faster recovery (87%) and the safety and accountability of staff (77%).
  • Most organizations understand the importance of having a business continuity team and the findings show that having a Business Continuity programme boosts recovery and detection while mitigating losses and ensuring a sound PR strategy to deal with a crisis.
  • Analysing the impact of disruptions on organizations, 26% do not know the consequences of an incident. Having Business Continuity measures in place can help with understanding vulnerabilities and having better performance. Research shows that the main challenges which occur from disruptions tend to decrease the longer an organization adopts the necessary measures.
  • Addressing the cost of disruptions to organizations, 44% of respondents were not aware of the average cost of disruptions in the past five years. More than 26% reported losses of more than $250,000. Looking at the relationship between business continuity longevity and financial losses, the longer organizations have business continuity measures in place, the lower the losses.
  • Business continuity is considered a key function when responding to a disruption as it constantly features among the top three regardless of the type of incident that an organization is dealing with. This emphasises on the versatility and importance of business continuity arrangements, whether you are dealing with weather hazards or a cyber-attack.

David Thorp, Executive Director of the BCI, comments: “Business continuity plays a central role across different scenarios. As the world grows increasingly digitalised, it is important to choose the right type of solution. In this regard, being able to see how the industry is behaving can help make an informed decision.”

Owen Miles, Technical Director EMEA at Everbridge, said: “Operational disruptions and critical events are an everyday hazard for organizations, and whilst business continuity professionals are trying to actively engage with their security, crisis management and IT colleagues, we can clearly see from this report that their appeals are not being treated as a priority. Improved organizational resilience, better planning and a cohesive approach to combatting threats and crises is essential. We hope that this research will demonstrate the many benefits that organizations can realize from investing in business continuity.”

 

About the Business Continuity Institute

Founded in 1994 with the aim of promoting a more resilient world, the Business Continuity Institute (BCI) has established itself as the world’s leading Institute for business continuity and resilience. The BCI has become the membership and certifying organization of choice for business continuity and resilience professionals globally with over 8,000 members in more than 100 countries, working in an estimated 3,000 organizations in the private, public and third sectors.

The vast experience of the Institute’s broad membership and partner network is built into its world class education, continuing professional development and networking activities. Every year, more than 1,500 people choose BCI training, with options ranging from short awareness raising tools to a full academic qualification, available online and in a classroom. The Institute stands for excellence in the business continuity and resilience profession and its globally recognised certified grades provide assurance of technical and professional competency. The BCI offers a wide range of resources for professionals seeking to raise their organization’s level of resilience, and its extensive thought leadership and research programme helps drive the industry forward. With approximately 120 Partners worldwide, the BCI Partnership offers organizations the opportunity to work with the BCI in promoting best practice in business continuity and resilience.

The BCI welcomes everyone with an interest in building resilient organizations from newcomers, experienced professionals and organizations. Further information about the BCI is available at www.thebci.org.

About Everbridge

Everbridge, Inc. (NASDAQ: EVBG) is a global software company that provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order to keep people safe and businesses running. During public safety threats such as active shooter situations, terrorist attacks or severe weather conditions, as well as critical business events including IT outages, cyber-attacks or other incidents such as product recalls or supply-chain interruptions, over 4,000 global customers rely on the company’s Critical Event Management Platform to quickly and reliably aggregate and assess threat data, locate people at risk and responders able to assist, automate the execution of pre-defined communications processes through the secure delivery to over 100 different communication devices, and track progress on executing response plans. The company’s platform sent over 2 billion messages in 2017 and offers the ability to reach over 500 million people in more than 200 countries and territories, including the entire mobile populations on a country-wide scale in Sweden, the Netherlands, the Bahamas, Singapore, Greece, Cambodia, and a number of the largest states in India. The company’s critical communications and enterprise safety applications include Mass Notification, Incident Communications, Safety Connection™, IT Alerting, Visual Command Center®, Crisis Commander®, Community Engagement™ and Secure Messaging. Everbridge serves 9 of the 10 largest U.S. cities, 8 of the 10 largest U.S.-based investment banks, all 25 of the 25 busiest North American airports, six of the 10 largest global consulting firms, six of the 10 largest global auto makers, all four of the largest global accounting firms, four of the 10 largest U.S.-based health care providers and four of the 10 largest U.S.-based health insurers. Everbridge is based in Boston and Los Angeles with additional offices in Lansing, San Francisco, Beijing, Kolkata, London, Oslo and Stockholm. For more information, visit www.everbridge.com, read the company blog, and follow on Twitter and Facebook.